I built a very versatile grinder/buffer from a set of 3/4" pillow blocks, a length of drill rod and a 3/4 HP electric motor. One end of the shaft is turned down to 1/2" diameter and threaded for 1/2-20 screw-on arbors for a wire wheel, and muslin or felt buffing wheels, while the other end has a 1/2" left-hand thread for attaching a grinding wheel. The motor has a 3-step pulley and a drive belt for spinning the shaft at different speeds. Turning the LH thread on my lathe was quite a learning experience! The whole works is mounted to a steel plate with a tripod leg arrangement for stability.
Jerry